Fed going to knock GLD way, way down as they give the Green Light to taper hard going forward. You sure don't want to be long GLD with the Fed about to end QE. Its suicide to go long GLD with the Fed now in massive taper mode.
When news breaks that the Fed is going to slash QE to very small pieces. More and more Fed members says Taper away as Yellen takes control. And you know she will follow Bernie's lead and continue to Taper until all the "play money" is gone.
and I base that on several solid reasons, but in the "Big Picture" this unloved stock is now climbing as aluminum prices increase and AA product sales rocket higher.
Agree - but not dramatically. Bigger question is what does it do over night. I'll be holding Dust into tomorrow because I think Asian markets and then Europe markets will dump gold after the $40 spanking it took today, Who wants to go long Gold when you start losing fingers and toes betting the wrong way.
and going to fall further tomorrow. When you see the dollar strengthen (again) the market go green after a 300 point jump and gold drop $40 you know the yellow metal is going to crater again tomorrow. Who in there right might wants to try and catch a very sharp falling knife?
Does Gold Sell off Tomorrow and if so by How Much?
I say the sell off continues tomorrow because
Asian markets will dump gold as the U.S. stock market is higher again
Dollar is strengthening again
Panic selling kicks in with $40 plus drop today
Now the Hard part
I say Gold sells off $15 to $20 tomorrow but might miss high or low.
Any thoughts from Board?
but the real good news is that this baby will double by January and possibly triple come March - April, Fed going to taper every month now as gold and gold mining companies crumble.
Just sold - Stock is set up for a big sell off with no new products on the horizon and China Mobile pretty much saying "we don't need iphones" to make money. Its a mistake to hold here thinking the stock will go higher. If anything it looks like the company could miss big time next few quarters and stock could retest $450 or lower.
China Mobile playing hardball with Apple and one has to wonder how far Apple stock could drop as we get another China Mobile delay, after delay, after delay. Today's CM announcement that the company is in no hurry to sell iPhones will hurt Apple stock, Big question now is will the blood letting stop at $520 - $530 today or head lower tomorrow, next week?
and maybe lower. China Mobil in no hurry to add iPhone and rumors are that a deal won't happen until mid-2014. Also, CM telling Apple they will not subsidize iPhones like other phone carriers so Apple could really fall if we get more negative news. With no new products out for several months and no iPhone deal in China, this stock could quickly retrace back to $400's levels.